Deshodaya Development Finance Company Ltd. (DDFC), coming under the Sarvodaya umbrella, is a licensed finance company in the country which obtained the license in 2013. According to reliable sources DDFC has signed a MOU with Abans Finance (AFSL) to merge the two finance companies as per the capital requirement of the Central Bank.
According to sources Book value of DDFC is around 600mn whereas Abans Finance (AFSL) Book Value is less than Rs 500mn. Therefore upon merger DDFC being the stronger partner, is likely to hold majority shares. This move is likely to benefit Abans Group, and its FMCG business due to the extensive network of Micro Finance customers DDFC possess.
Information about DDFC:
DDFC Annual Report:
Abans Finance Interim Accounts:
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